Line Man Wongnai is offering an electronic ride-hailing service promising an affordable price and safety, in a bid to fill a price gap and capitalise on a local market projected to be worth 34 billion baht in five years.
The company said its Line Man Ride service offers the lowest passenger fare, at least 10% lower than its rivals during peak hours. The service also charges the lowest commission fee for drivers at 10%, while its rivals charge an average of 15-25%, according to Line Man Wongnai.
There are 11 ride-hailing service operators in Thailand.
"We see growth opportunities in the market as users change behaviour from using offline services to online ones," said Siwaphume Lertsansaran, senior vice-president of on-demand services at Line Man Wongnai.
He said the ride-hailing industry has gained regulatory support and there is a price gap in the market as fares increase rapidly.
Thailand's ride-hailing sector is projected to reach 20 billion baht in 2024 and 34 billion baht in five years, representing double-digit growth, said Mr Siwaphume. The company aims to grow 2-3 times faster than the industry, he said.
Line Man Wongnai initially offered the Line taxi service. Earlier this year it received a licence from the Department of Land Transport (DLT) to use personal vehicles to offer a ride-hailing service.
Mr Siwaphume said the company's overall services have a user base of around 10 million monthly active users, mostly for its food delivery service, which it is leveraging for its ride-hailing. This large user base enables its ride-hailing service to rank in the top three in terms of transactions, he said.
Mr Siwaphume said the ride-hailing industry has gained regulatory support and there is a price gap in the market as fares increase rapidly.
The company's current Line Man Eco service covers personal vehicles, motorbike, and a taxi ride-hailing service. Line Man Wongnai is conducting a beta test of a premium car service. It aims to expand its overall ride-hailing service to serving tourists and airport markets.
In addition to an affordable price, Line Man Ride prioritises safety with real-time trip tracking, thorough driver criminal background checks, insurance coverage for drivers and passengers, and an anonymous rating system to ensure transparency, according to the company.
Since Line Man Ride received approval from the DLT earlier this year, it has reported 60% growth since launching.
Line Man Bike, which was also launched in early 2024, has grown by 390%, according to data collected from January to October this year.
The company aims to expand the ride-hailing service from the Greater Bangkok area to all major cities nationwide within two years, and at least 15-20 cities by 2025.
Isariya Paireeparirit, vice-president of public affairs at Line Man Wongnai, said the company's ride-hailing service is prepared to register as a digital service platform under the new regulations of the Electronic Transactions Development Agency.